ACORD Launches New Annual Event, ACORD Industry First, with Presentation of Study “Digitization & Distribution: The Broker & Agent Imperative”
The new study, sponsored by
Based on 10 years of financial and operating performance metrics for more than 12,000 property & casualty, life and multi-line insurance carriers across 94 countries, the study focuses on distribution trends of 1,115 carriers identified as "Intelligent Growth" carriers, having achieved both value creation and growth—outperforming their peers both in financial performance and market share increase.
In his keynote address, Pieroni explained that brokers and agents drive significant value for the industry's most successful carriers. Nearly a full 3/4 of
From a shareholder value creation standpoint, and from an ability to grow and simultaneously generate superior results, the study data reveals that brokers and agents are a key driver of success. Over the 10 years studied, Intelligent Growth carriers dramatically outperformed most publicly traded indices globally. Within that group, broker and agent-based writers more than tripled their shareholder return within the time period studied—a material indication that brokers and agents drive value for shareholders.
"Clearly agent and broker relationships are core to our industry's value proposition, and winning carriers are investing in those relationships by providing technology, training, and tools," said Pieroni.
Pieroni explained that digitization is key to the future of insurance, but that new technologies and tools alone will not solidify relationships and drive growth—they must be properly deployed with the right colleagues. "Insurance is a people business; technology is important, but equally so is ensuring that carriers attract high-skill, high-will talent. We see that this in turn attracts top agents and brokers, who ultimately attract loyal customers," said Pieroni.
ACORD is committed to providing industry leading and actionable R&D on behalf of its members. The full published report will be released to members in a white paper in early 2021. For more information, see www.acord.org/research.
About ACORD Industry First
ACORD Industry First is an exclusive event that brings together senior industry leaders at the intersection of insurance and technology, featuring first-of-its-kind research and thought leadership. Attendees collaborate with the industry's top minds in discussing emerging trends, and the strategies, tactics, and capabilities that will best position organizations to succeed in today's rapidly evolving market.
About ACORD
ACORD (
Contact:
beth@lpendragonus.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/acord-launches-new-annual-event-acord-industry-first-with-presentation-of-study-digitization--distribution-the-broker--agent-imperative-301156042.html
SOURCE ACORD
Ash Brokerage Reveals Turnkey System For Term Life Applications
In response to one hundred thousand Washingtonians who have lost their health insurance since March 15th, 2020 – Lowerscript.com announces launch of its new money saving prescription discount app for WA
Advisor News
- When a client moves, their insurance plan needs to move, too
- A rising retirement challenge: The license to spend
- Financial stress leaves less room for retirement saving
- Giving while you’re living: 3 frequently asked questions about gifting
- Helping clients prepare for one of their biggest retirement expenses
More Advisor NewsAnnuity News
- Global Atlantic names Dan Farrelly head of IMO and IBD channels
- A rising retirement challenge: The license to spend
- What lower interest rates mean to annuity payouts
- AM Best downgrades A-Cap insurers amid financial and regulatory troubles
- Lawsuit claims Delaware Life hid billions in insurer-linked investments
More Annuity NewsHealth/Employee Benefits News
Life Insurance News